Should I get a CMA now? Opinions needed.

  • Creator
    Topic
  • #1630201
    Bear-Bear
    Participant

    Hi everyone! It’s been almost a year since I’ve posted here. This board is such an awesome place, and a nightly sounding board during my CPA studying and testing process. Having finished that whole thing, I now return to you with another request for insight.

    Should I get the CMA? How does it compare in terms of difficulty? Is it even worth it career-wise? Which study program do you recommend? Can I double dip the CPE requirements with the ones I’m already taking for the CPA?

    Thanks guys!!

    FAR - PASS
    BEC - PASS
    REG - PASS
    AUD - PASS

    Done and licensed!

Viewing 7 replies - 1 through 7 (of 7 total)
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  • #1630207
    QueenCPA
    Participant

    @Bear-Bear : I will say go for it!

    The CMA is just BEC on steroids with some additional topics. Definitely not as crazy as some sections of the CPA (FAR,REG).

    It is more significant in industry than public. But even my firm (a big four) gives the CMA as an alternative to the CPA for promotion to manager. Hence, it is relevant.

    And YES, you can double dip with the CPE requirements. Gleim is a good study package- prepared you well.

    What's your email so I can provide you more information

     

    "And may the Lord our God show us his approval and make our efforts successful .Yes, make our efforts successful"

    Amen 🙂

    #1630277
    Anonymous
    Inactive

    I am interested in the CMA as well. I am stuck between doing the CFA, CMA or CFP. I think I most likely will go with the CMA because the less of a time commitment. @queencpa how'd you like taking it? Pretty much no one at my firm has it. And most do not even know about it.

    #1630375
    mtaylo24
    Participant

    @bear-bear I'm using HOCK, it's pretty good. Got a text, mcqs, flashcards, and essay bank (w/ essay videos) for $399, didn't get the video lectures tho… I probably won't sit until the Jan/Feb window tho since the CPA process destroyed my life and I need a break, plus the CMA process is pretty expensive. I'm an industry guy, so I figured it can only help. There is also a Wiley CMA excel, CMA Exam Academy (which uses the same test engine as Ninja). There is also Gleim and Becker which are stupid expensive.

    @colinmcl I hear the CFA is good one, depends on what you want to do. I hear its pretty intense and can easily become a time-suck (only offered once a year for pts 2 & 3, twice for pt 1). The CMA can probably can be obtained quickly. Probably can do the CMA while waiting for the CFA idk

    CPA (2017)

    REG:  75

    BEC:  76

    FAR:  77

    AUD: 78

     

    CMA (2019)

    P1: 380

    P2: 360

    AUD - 1st - 60 (12/12), 61 (2/13), 61 (8/13), 78! (11/15)
    REG - 55 (2/16) 69 (5/16) Retake(8/16)
    BEC - 71(5/16) Retake (9/16)
    FAR - (8/16)

    #1630435
    Anonymous
    Inactive

    @colinnmcl I would also like to add that in addition to knowing what would you want to pursue career wise (CFA = Investment Banks – Hedge Funds etc, CFP = Consulting, Estate planning etc) it is also important to know the experience requirements that these certifications have. From what I can see, CFP and CFA have pretty rigid requirements and I for example would not satisfy them.

    I decided to go for the CMA because I would like to someday make the transition to industry (I already have acquired experience that can translate to this industry). Worst case scenario, I cannot make the move but nonetheless, where I work, (Mid tier public accounting firm) management places value on employees obtaining other certifications in addition to the CPA license (they give out bonuses and give aditional points on the performance evaluations).

    #1630954
    So FAR So Good
    Participant

    @mtaylo24 – please tell me you haven't given up hope on the CPA! You're so close and if your signature is up to date, you still have one more shot before AUD expires.

    As for the CMA, I'm going to sit for it as well in the Jan/Feb window. I'm finding some difficulty in committing to study as my study materials (Wiley CMAexcel) don't really compare to my experience with Becker for the CPA. I really miss the video lectures and online interface. I was really spoiled with Becker

    AUD - 91
    BEC - 85
    FAR - 91
    REG - 86
    .

    F - 91 (6/5/2016)
    A - 7/30/2016
    R - 10/8/2016
    B - 12/10/2016

    #1630961
    Missy
    Participant

    If you want to challenge yourself and have a sense of accomplishment definitely go for it.

    If you think it will advance your career, well that depends on your career goals. Not EVERY manager will benefit from it and not every employer will recognize it. I'd start by considering your long term career goals then back into which certifications will advance those goals vs playing alphabet soup.

    I like my job and have no intention of moving but even if I did it would be to another small company, and there wouldn't be much value added. If I was management in a large company it for nothing else would distinguish me against other candidates for that position.

    Old timer,  A71'er since 2010.

    Finance manager/HR manager

     

     

    Licensed Massachusetts Non Reporting CPA since 2012
    Finance/Admin/HR Manager

    #1630976
    mtaylo24
    Participant

    @SoFARSoGood, Nope, haven't given up hope on the CPA yet. Still waiting on my last score, hoping that I won't even have to worry about next window, but we will see. Jan Feb window seems to be the move with the CMA. I would shoot for Oct if it wasn't so dang expensive. My employer will reimburse but I have to put up all of the funds to get things started.

    I hear you on getting through the material, the questions are all longer than the CPA and it seems like it is taking forever. I started while waiting for my last score, but then paused everything for my FAR retake (CMA actually made studying for FAR easier), and just started up last week. I'm wrapping up my first run through the material, but the test bank has definitely been terrible to get through. I think once you register you are given IMA materials, they supposedly aren't as bad, but I haven't gotten that far yet. Best of luck!

    CPA (2017)

    REG:  75

    BEC:  76

    FAR:  77

    AUD: 78

     

    CMA (2019)

    P1: 380

    P2: 360

    AUD - 1st - 60 (12/12), 61 (2/13), 61 (8/13), 78! (11/15)
    REG - 55 (2/16) 69 (5/16) Retake(8/16)
    BEC - 71(5/16) Retake (9/16)
    FAR - (8/16)

Viewing 7 replies - 1 through 7 (of 7 total)
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